MONEY MATTERS

We have to wait to see whether the Wall Street protest will change America’s direction. The Wall Street protest is into its fourth week and the protesters are blaming the bankers and hedge fund managers responsible for engendering the financial collapse of 2008. Their latest tack is to occupy the residential area of the millionaires, the posh uptown Manhattan.

Some 400-800 protesters of the OWS are to march from downtown into the millionaire’s residential area. They called this as “Millionaires March.” Residences of JP Morgan Chase CEO Jamie Dimon, billionaire businessman David Koch, financier Howard Milstein, hedge fund maven John Paulson and News Corp. Chairman and CEO Rupert Murdoch are to be occupied by the protesters.

Doug Forand, one of the march organizers has said that ninety percent of New Yorkers are to suffer from this tax giveaway so that the other one percent, who already live in luxury, can put more money in their pocket. The Wall Street Masters realize that their position is morally indefensible. They have got rich by peddling complex financial schemes that have pushed the American people into a crisis and the after effects continue to blight the lives of the people.

Still they are winning the game and the tax payers are losing. They benefit from the tax loop holes that make people with multi-million dollar incomes paying lower taxes than the middle –class families.

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